A proof of claim is a written statement setting out a creditor's claim and asserting its right to receive a distribution from the bankruptcy estate. It must "conform substantially" to Official Bankruptcy Form B410 (Fed. R. Bankr. P. 3001(a)). The purpose of a proof of claim is to give notice of the claim to the court, the debtor, the trustee, and other creditors. A properly prepared proof of claim is prima facie evidence of the validity and amount of the claim (Fed. R. Bankr. P. 3001(f)) and is deemed allowed, unless a party in interest (such as the debtor) objects (§ 502(a), Bankruptcy Code and see Practice Note, Filing a Proof of Claim in a Chapter 11 Bankruptcy Case: Objections to Claims). This means any distribution of the debtor's assets made on account of a claim is based on the filed proof of claim if it is not challenged (or survives a challenge).
The Proof of Claim Form (Official Bankruptcy Form B410) and the Mortgage Proof of Claim Attachment (Official Bankruptcy Form B410A) are the official forms on which creditors' proofs of claims should be completed and filed. The information below does not account for all the possible permutations of claims nor the circumstances creditors should detail in their proofs of claim. Also, it does not address processes that may be specific to particular bankruptcy jurisdictions. For information on these requirements, see Practice Note, Filing a Proof of Claim in a Chapter 11 Bankruptcy Case: Box, Local Bankruptcy Rules: Proofs of Claims and Objections to Claims.
For more information of filing proofs of claim, see:
· Practice Note, Filing a Proof of Claim in a Chapter 11 Bankruptcy Case.
· Practice Note, Filing a Proof of Claim: Pitfalls and Precautions.
· Practice Note, Filing a Proof of Claim in an Individual Bankruptcy Case.
· Practice Note, Filing a Proof of Claim in a Healthcare-Related Bankruptcy.
· Filing a Proof of Claim in a Chapter 11 or 13 Case by a Municipality Checklist.
Republished with permission. The full article, "Proof of Claim Form: Quick Reference Guide," was published by Thomson Reuters in Practical Law on May 10, 2021.